Brokerages Set SiTime Co. (NASDAQ:SITM) Target Price at $142.00

SiTime Co. (NASDAQ:SITM - Get Free Report) has been assigned an average rating of "Moderate Buy" from the six ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $140.00.

A number of equities analysts have issued reports on the company. Needham & Company LLC upgraded SiTime from a "hold" rating to a "buy" rating and set a $130.00 price objective for the company in a report on Thursday. Barclays boosted their price objective on shares of SiTime from $110.00 to $130.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 16th.

SiTime Trading Up 28.3 %

NASDAQ SITM traded up $27.42 during trading on Thursday, hitting $124.34. The company had a trading volume of 848,117 shares, compared to its average volume of 212,892. The company's fifty day moving average is $88.69 and its 200-day moving average is $104.32. The company has a market cap of $2.84 billion, a price-to-earnings ratio of -34.25 and a beta of 1.78. SiTime has a one year low of $72.39 and a one year high of $141.99.

SiTime (NASDAQ:SITM - Get Free Report) last posted its earnings results on Tuesday, February 13th. The company reported ($0.54) earnings per share for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.01). The firm had revenue of $42.40 million for the quarter, compared to analysts' expectations of $41.65 million. SiTime had a negative return on equity of 10.21% and a negative net margin of 55.93%. As a group, equities analysts anticipate that SiTime will post -2.3 EPS for the current year.

Insider Buying and Selling at SiTime

In related news, insider Fariborz Assaderaghi sold 1,288 shares of the company's stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $90.57, for a total value of $116,654.16. Following the transaction, the insider now directly owns 111,491 shares of the company's stock, valued at approximately $10,097,739.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 3,602 shares of company stock worth $319,899. 2.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SiTime

A number of hedge funds have recently modified their holdings of SITM. FMR LLC grew its stake in SiTime by 7.5% during the third quarter. FMR LLC now owns 3,054,878 shares of the company's stock valued at $349,020,000 after acquiring an additional 212,615 shares in the last quarter. Sandhill Capital Partners LLC bought a new position in shares of SiTime in the 3rd quarter valued at about $18,709,000. Invesco Ltd. grew its position in SiTime by 220.2% in the third quarter. Invesco Ltd. now owns 198,296 shares of the company's stock worth $22,655,000 after acquiring an additional 136,367 shares in the last quarter. Norges Bank bought a new stake in SiTime during the fourth quarter worth approximately $12,662,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in SiTime during the third quarter valued at approximately $10,035,000. 84.31% of the stock is currently owned by institutional investors.

About SiTime

SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, Singapore, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. It serves various markets, including communications, datacenter, enterprise, automotive, industrial, internet of things, mobile, consumer, and aerospace and defense.